Forex.ee: Daily economic news digest

Forex.ee: Daily economic news digest

26 April 2016, 12:27
EEAnalytics
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Daily economic digest from Forex.ee

Stay informed of the key economic events

 

Tuesday, April 26th

 

GBP/USD met strong resistance at level 1.45 yesterday, with no chances to sustain above it. The cable is seen consolidating near 10-week tops, although failed to keep 1.45 handle, as a mild cautious tone prevalent in the markets weighed on the risk currency GBP. However, the GBP/USD pair manages to remain on the bids on the back of stabilizing oil prices and growing anti-Brexit chatter across the GBP markets. Today economic calendar contains BBA Mortgage Approvals from UK and core Durable Goods Orders (Mar) with CB Consumer Confidence from US later. Currently pair is trading abandoning yesterdays high and holding on 1.4492 spot. Todays support and resistance levels are located at 1.4406 and 1.4597.


EUR/USD fixed its position after yesterdays recovery from last week lows. Ahead of the Federal Reserve and Bank of Japan meetings, traders seem to have turned cautious and might be unwilling to take directional bets before the key events risks. Traders, however, are likely to take trading cues from US durable goods orders and consumer confidence data, scheduled for release later today during the US session. Now pair trades at 1.1258 with the todays support and resistance levels at around 1.1215 and 1.1333.

 

USD/JPY trading under the bearish pressure after traders made its profit-taking move on Tuesday. The pair has been moving higher on expectations of further easing by BoJ. However, traders now seems to unwind their USD bullish bets on speculation that the US central bank might keep its monetary policy unchanged for some more time. Today the pair has refreshed this weeks low at level 110.67 and is trading at around 110.86. Support and resistance levels for the pair are located at 110.22 and 111.83

 

AUD/USD have found major gains at the beginning of Europe. The VX declining, coupled with the DXY index selling-off and copper prices recovering off lows, has allowed buyers of the high-yielding currency to gain traction. Aussie moved aggressively on north from bellow 0.77 with end of the rally at 0.7741. Now pair trades at 0.7738 trying to consolidate its gain, with todays support and resistance levels located at 0.7672 and 0.7752

 

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